WebApr 18, 2012 · That relief includes at least $10 billion to write down principal for borrowers who owe more on their mortgages than their homes are worth, at least $3 billion to support refinancing for responsible borrowers, and up to $7 billion in support for the unemployed, service members and distressed communities. In addition, the agreement will require ...
Government Refinance Assistance
WebNov 24, 2024 · A home is underwater when the homeowner owes more on the house than it is worth. For example, if your home's current market value is $280,000, but you owe $300,000 on the mortgage, your home is underwater or upside-down. You owe $20,000 more to your mortgage lender than your home would sell for. Putting that into even … WebJun 9, 2024 · Option 5: Walk away voluntarily with a deed-in-lieu of foreclosure. Deed-in-lieu of foreclosure is a second to last resort for escaping your underwater mortgage. You … songbird cabin broken bow
How to Refinance an Underwater Mortgage
WebSee if you qualify for government assistance from HUD or your state to rent, buy, or repair a home. Find emergency housing and avoid foreclosure and eviction. ... Get information about rental, home buying, and home repair assistance programs. Learn how to find emergency housing and avoid foreclosure and eviction. Most popular. WebJul 22, 2016 · In addition to the above federal programs, a local refinancing program to help underwater homeowners will be launched by the Illinois Housing Development Authority. Beginning August 1, I-Refi will offer up to $50,000 assistance so homeowners can reduce their mortgage principal and refinance each underwater loan into a “new affordable loan”. WebJun 27, 2024 · Unemployment Mortgage Assistance (UMA). Offers up to $3,000 per month for homeowners collecting unemployment benefits. Mortgage Reinstatement Assistance Program (MRAP). songbird bed and breakfast